Our solicitor has identified a a legal deficiency with the lease for the apartment we are buying in Taplow. The other side have put forward title insurance as a solution. We are content with insurance and will pay for it. Our conveyancer has advised that he must ensure that the bank is content with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your solicitor will have no choice but to discontinue acting for you.
I have been recommended a conveyancing solicitor in Taplow. I need to find out whether they are accepted on the Britannia approved list of lawyers. Could you help?
You should phone your lawyer and ask them if they can act for the lender. Otherwise you should get in touch with Britannia who may be able to help.
Should our conveyancer be raising questions concerning flooding as part of the conveyancing in Taplow.
Flooding is a growing risk for conveyancers conducting conveyancing in Taplow. Some people will purchase a property in Taplow, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or dispose of the premises. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Lawyers are not best placed to offer advice on flood risk, however there are a number of checks that can be undertaken by the purchaser or on a buyer’s behalf which should figure out the risks in Taplow. The standard information sent to a buyer’s lawyer (where the Conveyancing Protocol is adopted) contains a usual question of the seller to find out if the premises has suffered from flooding. In the event that the property has been flooded in past which is not revealed by the vendor, then a purchaser may bring a legal claim for losses resulting from an inaccurate answer. A purchaser’s lawyers may also carry out an enviro report. This should indicate if there is a recorded flood risk. If so, additional investigations should be made.
My wife and I own a 4 bedroom Victorian property in Taplow. Conveyancing practitioner acted for me and TSB. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, the second leasehold with the matching address. I thought I was buying a freehold how can I check?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Taplow and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the position with your conveyancing practitioner who conducted the purchase.
I'm purchasing my first flat in Taplow with the aid of help to buy. The sellers would not move on the price so I negotiated 6k of additionals instead. The house builders rep told me not disclose to my lawyer about the extras as it may impact my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Taking into account that I am about to spend over three hundred thousand on a property in Taplow I would like to have a conversation with the conveyancer regarding thehome move in advance of instructing the firm. Can this be arranged?
This is something that we encourage - it is our preference to talk to you we do not take any clients on without you speaking to the lawyer due to be doing your conveyancing in Taplow.There is no ‘factory style conveyancing’ - every client is unique person, not a matter number. The practices that we put you in touch with believe that the figure you are quoted for residential conveyancing in Taplow should be the figure that you end up paying.